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BOA Assured Child
The Assured Child Education Plan is designed to provide secure financial preparations to finance various stages of educating a child whether parents are dead, permanently disabled or alive.
- Features and Benefits
- Defined maturity benefit (sum assured) is linked to cost of education
- Option 1: GHS6,000
- Option 2: GHS12,000
- Option 3: GHS16,000
- A higher amount could be arranged.
- Maturity benefit paid at the target maturity date.
- Child maintenance benefit (25% of sum assured annually)
- Option for Educational Loan from BOA using policy as collateral
- Waiver of premium benefit in the event of death or permanent total disability of account holder.
- Surrender benefit (i.e. benefit paid when policy is stopped)
- Automatic benefit update option annually to sustain value of benefits.
- Defined maturity benefit (sum assured) is linked to cost of education
For fresh application, the following documents will be required:
Filled proposal form
Filled mandate form for premium deductions
For claims processing, the following documents will be required:
Maturity Claim
Complete maturity claim application form or in writing apply for your maturity benefit with the following required documents:
Original policy document, policy schedule and any endorsement
Original or certified true copy of photo identity of policyholder
Any other documents deemed necessary by the insurer.
Surrender Claim
Complete surrender application form or in writing apply to surrender your policy with the following required documents:
Original policy document, policy schedule and any endorsement
Original or certified true copy of photo identity of policy holder
Any other documents deemed necessary by the insurer.
Child Maintenance Income Claim
Beneficiary or trustee shall complete claim application form if the beneficiary is a minor with the following required documents:
Original or certified copy of medical certificate of cause of death of assured.
Medical report from a specialist medical practitioner in case of permanent total disability and its cause.
Police report if death or permanent total disability of assured was caused by accident.
Original or certified copy of a photo identity of the claimant.
Proof of age of policyholder if age was not admitted.
Proof of death or disability of the assured.
Any other documents deemed necessary by the insurer.
BOA Family Care Assurance
The Family Care Assurance is a funeral plan that guarantees policy holders and their families a befitting and dignified transition in the event of death.
- One week celebration benefit as standard benefit to account holder on the life of a family member (20% of funeral benefit)
- Account holder permanent total disability (PTD) benefit as “We Care Benefit”
- Cash back benefit of 10% of premium paid less expenses every five (5) years if no claim occurs.
- Account holder retires with premium payment at age 60 – unique.
- Option for 1st anniversary benefit.No medical report requirements.
- Automatic benefit update option annually to sustain value of benefits.
- Account holder and spouse have 100% of the sum assured.
- Family members have 50% of sum assured.
For fresh applications, the following documents will be required:
Filled proposal form
Filled mandate form for premium deductions
For Funeral and One Week Celebration Claim, the following documents will be required:
Completed claim application form or written application signed by claimant with the following required documents:
Original policy document.
Original or certified true copy of medical certificate of the cause of death.
Police report for accidental death only.
Proof of age of deceased life assured if age is not admitted.
Original or certified true copy of photo identity card of the beneficiary or trustee.
Any other documents deemed necessary by the insurer.
Claims Payment
Saham Life shall honour all genuine claims within 4 days after receipt of all relevant documentation.Documentation include the following:
Properly filled claim form
Medical certificate of cause of death/death certificate in case of death
Police report in case of accidental permanent total disability or accidental death
Photo identification of claimant
Notification of claims must be done either at BOA’s branches or through the Assured Service Team.
BOA should be an option to be appointed by policyholders as Trustees, to be able to authorise claim payments
Asset & Vehicle Financing
At an annual interest rate of 18%, BANK OF AFRICA, in less than 10 days, will assist you with financing to acquire your dream car from CFAO (Terms and Conditions Apply)
How It Works:
- Walk into any CFAO Showroom and pick a car of your choice
- Complete and submit needed documentation to BANK OF AFRICA
- Get Approval and drive the car in less than 10 days
- No Collateral needed
- Have up to 60 months to pay for car
- Unbelievable interest rater of 18% per annum
- Vehicle is fully insured
- 3 years/100,000km Warranty
- Salaried workers still in full employment
- Customers of BANK OF AFRICA
Documents to Produce
INDIVIDUALS
- Filled Application Form
- 1 recent Passport sized picture
- Certified copy of identity card preferably Ghana National ID Card
- Proof of salary – Confirmed Pay slip for the last 3 months
- Six months’ bank statement
- Proof of address / Directional Map (Utility bill, etc.)
- Digital address of the place of work and residence of the applicant
- Letter of undertaking from employer
- Pro-forma invoice from CFAO
- Minimum Cash deposit or Equity Contribution of 25%
NON INDIVIDUALS
- Filled Public Service Pack opening form
- Facility Application letter
- Company profile including information on board of directors and management experience
- 3 years Audited financial statements for most recent years
- Cash flow projections for the facility’s tenor
- Schedule of credit facilities accessed from other banks, underlying security and their maturity dates.
- Bank Statements from major bankers
- Pro-forma invoice from approved vendor
- Minimum Cash deposit or Equity Contribution of 25%
- KYC compliant
